ITC Infotech bags $54 M PTC contract

BANGALORE: Indian technology firm ITC Infotech said Tuesday it has secured a $54 million contract with Parametric Technology (NASDAQ:PMTC), a U.S.-based software product development company.

The order from Parametric will be spread over 39 months, ITC Infotech managing director, Sanjay Verma said.

ITC said it plans to hire 130 engineers who will provide software support to PTC's clients. The services that the ITC will provide PTC and its global customers include on-the-ground implementation of PTC's software products, services and solutions, technology support and training. ITC will also establish a dedicated Offshore Development Centre (ODC) in its campus in Bangalore to provide this gamut of services and support.